This shows how much info in the media is distorted-just the other week they were going on about record debt levels but the analysis didn't take into account offset accounts which nearly everyone these day uses...this below shows what we have been saying, people are paying down debt at record rates!
"SAVVY home loan customers have built up the fattest-ever home loan buffers and are now 2.5 years ahead of their mortgage repayments, new figures show.
The Reserve Bank of Australia’s biannual Financial Stability Review shows mortgage buffers — balances held in offset accounts and redraw facilities — now equate to around 17 per cent of outstanding"
